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The sale of the embattled Montreal, Maine and Atlantic Railway can move forward after Canadian regulators approved the application for its buyer.
The Portland Press Herald reported that Central Maine and Quebec Railway's application to buy MMA's Canadian assets was approved by Canadian regulators on Tuesday. The company closed on purchasing MMA's American assets on May 15.
MMA, which operates approximately 500 miles of railroad between Maine and Montreal, filed for bankruptcy last August, a month after one of its oil trains derailed in a small Quebec town, killing 47 people and destroying a majority of the town's downtown area.
Central Maine and Quebec Railway has previously said that it plans to invest $10 million in railroad improvements in the next two years. It also said it plans to resume oil shipments in 18 months, including through the Quebec town of Lac-Megantic, which is still recovering from last year's accident.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
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